I visited Cobán in November 2013, having returned from Europe and hooked up with my fiance in Flores, so that we could head to Semuc Champey. The town didn't blow me away, but it was prettier than most of the other towns in the country. It's certainly a place that you can explore without fear - in sharp contrast to the frenetic, violent social and economic urban chaos of the capital.
The town itself doesn't have much on offer and, for tourists on a trip to Guatemala, it serves best as a stop-over on the way to Semuc Champey.
Unfortunately we didn't seem much of the town as its museums were closed that day and, upon our return a few days later, we didn't have time to do a cultural tour. Cobán's attraction is in its surroundings: the King Marcos Cave (grutas del Rey Marcos ), the Quetzal Refuge - home to the country's national emblem - , the Lachuá Lagoon and other impressive natural sites.
One highlight: the National Indigenous Queen Contest of Guatemala, which is held at the end of each year, as part of the Rabin Ajaw Festival. With its costumes and crowns, it gives a fascinating insight into traditional Guatemala and is televised on national (and, maybe, regional) TV.